Middle East and Africa Fats and Oils Market was worth USD 10.9 billion in 2022 and estimated to be growing at a CAGR of 3.96%, to reach USD 13.24 billion by 2028.
From ancient times, fats have been part of the human diet, being unconsciously consumed in his food via various sources. In the present day, fats are used for the production of food, be it unprocessed or just the ingredients, in substantial quantities. Fats are essentially organic substances which contain a high amount of energy and may be present in solid or liquid form, with the liquid form being alternatively called as an oil.
The major feature of fats is the whipping, emulsifying and lubricating property they have along with being a warehouse of calories. The calorie content may be as high as 9 calories per gram of fat. Most fats are made up of fatty acid esters. Dietary fats are consumed by humans and form an essential part of the human diet with it being beneficial for cell growth and protection of body organs. They may be classified into groups such as saturated, monounsaturated, trans, and polyunsaturated depending on their cholesterol levels.
The major driver of the Middle-East and Africa fats and oils market is rising demand for processed food. The rising consumption of animal products is another driver for the market as it indirectly leads to an increase in demand for high quality edible fats. Another driver more prevalent in the region is the demand for alternative biodiesel fuel. The increasing demand from the transportation sector as well as the boom in population of the region means the market is not expected to decline in the near future. However, inspite of the various factors for the market growth, increasing health concerns and stringent government regulations act against it. Additional rising quality standards and environmental concerns further hamper the market boom.
The Middle-East and Africa Fats and Oils market is broadly classified into Palm, Sunflower, Olive, Soybean, Rapeseed and others based on product type. Based on application, they are classified as Food, Industrial, Personal Care, Animal Feed and Pharmaceutical. They are further classified into butter, ghee, lard and suet on the basis of animal fats. Based on form they are classified into solid and liquid and based on source they are classified into plants and animals.
Geographically the Middle East and Africa Fats and Oils Market is segmented into KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan and Rest of MEA. The Middle-East and Africa market is the smallest market with only 5% of the total market revenue being generated from here. Inspite of the small size, the market shows promise in the future since the region is fast developing.
Key Players in the Market:
Major Key Players in the MEA Fats and Oils Market are
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